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    2 Replies Latest reply on Jul 30, 2008 8:20 AM by sreed47

    I'm looking for $$ to purchase new communities

    sreed47 Newbie
      I'm looking for money ($50K or better) to purchase new real estate, get them licensed and converted into more assisted livings. I have 15 years experience in the industry, but don't have the finances right now to take advantage of the low real estate market. I need 8 months operating funds for each assisted living. I'll do all the work if someone can do the financing and we'll split (50/50) the profits. Any one know of anyone that would be interested in this situation?
        • Re: I'm looking for $$ to purchase new communities
          LUCKIEST Guide
          I'm looking for $$ to purchase new communities, Welcome Sandy.

          Sounds exciting. Tell me more. How long have you been purchasing R E and converting
          them into assisted livings?? How many do you own NOW??

          Do you have an Accountant?? Prior year tax returns I can see??
          Have you developed a Business and Marketing Plan I can read??

          You can email me at " pdeog@juno.com

          Thanks, LUCKIEST
            • Re: I'm looking for $$ to purchase new communities
              sreed47 Newbie

              Good morning, Luckiest,
              I have been an Executive in the assisted living industry for 10 years working with some of the industry leaders such as HCR Manor Care, Summerville and Sunrise. I have owned my own homes for the past 5 years and currently own 3 small communities. I have owned many more over the past years, but I have found a profitable niche where I buy the RE, get them licensed, staffed and revenue producing and sell them at 2x what I paid for them (some were purchased at $300K and sold @ $850K profit in 6 months $400K RE & $450K for the business WITH NO INCOME - AS IS). I have sold 5 (small) communities in the past 3 years, all with a minimum profit of $150K. That was during the RE peak! I could do soooo much better right now if I had financing.